FX.co ★ Trading tips for GBP/USD

GBP/USD went into consolidation, with a clear horizontal border at 1.06293, which the pair approached more than once over the past three days. Buyers are obviously trapped, so they can only limit their transactions to the said level. In this regard, market players should look more on short positions to avoid losses.

Thus, today, it is best to enter the market by selling, with take profit set at 1.06300.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.